Commisso: No Milan conditions, but…

by | Jun 29, 2018 20:40

Italo-American tycoon Rocco Commisso admits there are currently no conditions for him to buy into Milan but still ‘hopes’ a deal can be reached.

Commisso had been close to a deal for €500m plus payment of the debt to Elliott Management, leaving 15-20 percent of the club to Li Yonghong.

Italo-American tycoon Rocco Commisso admits there are currently no conditions for him to buy into Milan but still ‘hopes’ a deal can be reached.

Commisso had been close to a deal for €500m plus payment of the debt to Elliott Management, leaving 15-20 percent of the club to Li Yonghong.

However, the Chinese businesman then seemed to pull the plug as he wanted to keep 30% of the club and find the €32m owed to Elliott by July 6.

In an attempt to bring clarity to the situation, which has since taken a further twist following the Rossoneri’s exclusion from the Europa League, the US-based Calabrian released a statement on Friday night.

“As numerous Press reports and social media accounts have publicly suggested, Rocco B Commisso has been negotiating to purchase a controlling interest in AC Milan,” it began.

“Many of those reports and accounts have contained statements about Mr Commisso and the negotiations that come from unspecified sources have not usually been accurate.

“Until now, Mr Commisso’s team has refrained from making public statements about the status or substance of the negotiations in order to preserve an atmosphere conducive to concluding a deal.

“However, Mr Commisso believes that the time is right to let the millions of AC Milan fans know exactly where things stand.

“Mr Commisso has worked tirelessly with the assistance of his advisors to formulate and negotiate a transaction beneficial to this historic club, its loyal fans, the current ownership and the community of Milan.

“Despite his best efforts and genuine belief that an agreement had recently been reached, it appears that the current ownership is not willing to conclude a deal on acceptable terms in a timely manner.

“Given Mr Commisso’s passion for the game of soccer and ties to his native Italy, this is an extremely unfortunate situation for him personally.

“However, he hopes the end result of this process leads to a stable and successful future for this iconic club.”

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